The Bureau of the Treasury (BTr) has fully awarded bids for the treasury bills auctioned yesterday amid healthy market demand for the short-term IOUs.
The auction was more than three times oversubscribed, with total tenders reaching P64 billion.
With its decision, the committee was able to raise the full program of P20 billion.
“Rates continue to creep with lingering concerns on higher inflation,” Rosalia de Leon, national treasurer, told reporters in a Viber message yesterday.
The 91-day paper fetched a rate of 1.336 percent, 10.4 basis points (bps) up from the previous average of 1.232 percent.
Tenders totaled to P12.572 billion, with the auction committee awarding P5 billion as programmed.
For the 182-day securities, the rate is 1.718 percent, 19.1 bps higher than the previously recorded yield of 1.527 percent.
Demand reached P22.638 billion versus the P5 billion offering, which was fully awarded by the government.
Lastly, the yield of the 364-day IOU is 1.997 percent, 0.7 bps up from the previous average of 1.99 percent.
Tenders amounted to P28.798 billion, with the government awarding P10 billion as programmed.
The BTr also opened the tap facility window for the one-year paper for another P5 billion. – Angela Celis